Consider the following statements on SAFTA: 1. SAFTA is a trade liberalisation programme among the South- Eastern countries of Asia. 2. According to SAFTA, the Ministerial Council shall meet at least once every year or more often as and when considered ne

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Q: 66 (CDS-II/2014)
Consider the following statements on SAFTA:
1. SAFTA is a trade liberalisation programme among the South- Eastern countries of Asia.
2. According to SAFTA, the Ministerial Council shall meet at least once every year or more often as and when considered necessary by the Contracting States.
Select the correct answer using the code given below:

question_subject: 

Current Affairs

question_exam: 

CDS-II

stats: 

0,8,20,6,8,14,0

keywords: 

{'safta': [0, 0, 0, 1], 'ministerial council': [0, 0, 0, 1], 'trade liberalisation programme': [0, 0, 0, 1], 'contracting states': [0, 0, 0, 1], 'asia': [0, 0, 1, 0]}

The correct answer is option- 2, which means that statement 2 is correct.

Statement 1 is incorrect. SAFTA stands for South Asian Free Trade Agreement, not South-Eastern. SAFTA is a trade liberalization program among the countries of South Asia, including Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.

Statement 2 is correct. According to SAFTA, the Ministerial Council, which consists of the trade ministers of the contracting states, shall meet at least once every year or more often as and when considered necessary by the contracting states. This council is responsible for the overall administration and implementation of SAFTA.

Therefore, only statement 2 is correct, and the correct answer is option- 2.